EquityPandit’s Outlook for TCS for the week  (Mar 05, 2019 – Mar 08, 2019) : 

TATA CONSULTANCY SERVICES:

TCS closed the week on positive note gaining around 3.60%.

As we have mentioned last week, that resistance for the stock lies in the zone of 1960 to 1980 where Fibonacci levels and medium term moving averages are lying. If the stock manages to close above these levels then the stock can move to the levels of 2020 to 2040 where Fibonacci levels are lying. During the week the stock manages to hit a high of 2075 and close the week around the levels of 1995.

Support for the stock lies in the zone of 1960 to 1980 where Fibonacci levels and medium term moving averages are lying. If the stock manages to close below these levels then the stock can drift to the levels of 1880 to 1900 where long term moving averages and Fibonacci levels are lying.

Resistance for the stock lies in the zone of 2020 to 2040 where Fibonacci levels are lying. If the stock manages to close above these levels then the stock can move to the levels of 2080 to 2100 where Fibonacci levels and high for the month of February-2019 is lying.

Broad range for the stock in the coming week is seen between 1920 to 1940 on downside & 2060 to 2080 on upside.